Once the resolution plan stands approved by the NCLT, all claims stand frozen, and no claim, which is not a part of the resolution plan, survives – Aircel Cellular Ltd. Vs. Union of India – Madras High Court
In this case the claims of the operational creditors including Government dues (including the dues of the Department of Telecommunications) was quantified at an amount of Rs.2,703.96 Crores. From, and out of the same, an amount of Rs.27.85 Crores was admitted, and the amount provided under the plan is Rs.0.25 Crores, being 0.01% of the amount claimed. With the approval of the resolution plan on 09.06.2020 by NCLT, Mumbai Bench-II, the claims of the respondents, that is, the Department of Telecommunications have been duly taken note of by the NCLT.
Hon’ble High Court referring judgments in Ghanshyam Mishra and Sons and Ruchi Soya Industries held that once the resolution plan stands approved by the NCLT, all claims stand frozen, and no claim, which is not a part of the resolution plan, survives. In the present case, the claim of the respondents has not only been noted, but also has been accepted, in part.
